Question 23 (4 points) The following information is available for Palmer Company: Sales revenue Sales returns and allowances Cost of goods sold Operating expenses Interest expense Interest revenue $718,000 20,000 398,000 140,000 19,000 10,000 What is Palmer Company's gross profit and income from operations? O1 Gross Profit: $300,000 Income from Operations: $151,000 Gross Profit: $300,000 Income from Operations: $160,000 O 3 Gross Profit: $320,000 Income from Operations: $180,000 O4 Gross Profit: $310,000 Income from Operations: $170,000